NVIDIA reported earnings and guidance last night and the street was happy with what they saw. Here is a quick summary.
Yesterday, NVIDIA reported its financial results for the fourth quarter and fiscal year 2024. Here are the key highlights:
- Earnings Per Share (EPS):
- GAAP EPS: The GAAP earnings per diluted share for the quarter was $4.93, reflecting a 33% increase from the previous quarter and an incredible 765% surge from a year ago.
- Non-GAAP EPS: The non-GAAP earnings per diluted share stood at $5.16, showing a 28% growth from the previous quarter and an impressive 486% rise from a year ago1.
NVIDIA’s founder and CEO, Jensen Huang, emphasized the impact of accelerated computing and generative AI, which have reached a tipping point. Demand for these technologies is surging globally across various industries and companies. The company’s Data Center platform is driven by diverse factors, including demand from cloud-service providers, GPU-specialized entities, enterprise software, and consumer internet companies. Vertical industries like automotive, financial services, and healthcare are also adopting NVIDIA’s solutions at a multibillion-dollar level1.
Furthermore, NVIDIA’s RTX platform, introduced less than six years ago, has become a massive PC platform for generative AI, benefiting 100 million gamers and creators. The company anticipates major new product cycles with exceptional innovations in the coming year1.
Lastly, NVIDIA will pay its next quarterly cash dividend of $0.04 per share on March 27, 2024, to all shareholders of record on March 6, 20241.
Here’s a summary of the financial performance for the fourth quarter of fiscal 2024:
| Metric | Q4 FY24 | Q3 FY24 | Q4 FY23 |
|---|---|---|---|
| Revenue | $22.1 billion | $18.1 billion | $6.1 billion |
| GAAP EPS | $4.93 | $3.71 | $0.57 |
| Non-GAAP EPS | $5.16 | $4.02 | $0.88 |
And a summary for the entire fiscal year 2024:
| Metric | FY24 | FY23 |
|---|---|---|
| Revenue | $60.9 billion | $26.97 billion |
| GAAP EPS | $11.93 | $1.72 |
| Non-GAAP EPS | $12.96 | $3.36 |
NVIDIA continues to drive innovation and shape the future of AI computing. The consensus view is that they will dominate hardware of the next 2 or 3 years and software for the next 5 at least. At $779 as share, the company has a market capitalization of $1.92 trillion. The remarkable rise in market cap puts the company up there with Apple, Microsoft, Alphabet and Amazon. The equity is worth more than Berkshire Hathaway and Meta. Speculative fever is alive and well. Next Stop?
